"One-of-a-kind opportunity": 100-plus Detroiters given deeds to their homes through city's Buy Back program
(CBS DETROIT) - More than 100 Detroit residents walked away as homeowners on Wednesday thanks to the city's Buy Back program.
The program, operated through the Detroit Land Bank Authority (DLBA), allows residents who occupy DLBA-owned homes to purchase the property for $1,000 if they complete a year of homebuyer counseling and save enough money to pay the first summer tax bill.
"Our Buy Back program is a one-of-a-kind opportunity in the City of Detroit to help those in precarious housing situations find not just stability, but actually become homeowners," Detroit Land Bank Authority CEO Tammy Daniels said in a press release.
City officials say the program is to help residents who lost their homes to foreclosure but never left, were victims of real estate and landlord fraud or have another significant connect to the home.
About 1,000 people have purchased homes through program since 2016, with more than 900 successfully exiting the program and receiving their deed.
"For some this may be their first time owning their own home and for others, this program allows them to regain ownership of a home that used to belong to their family," Daniels said. "Either way it's a major accomplishment and the land bank is proud to be a part of it."
City officials say 90 households are being vetted for the program, and the Land Bank Authority is currently accepting new applications.
Residents who currently live in a DLBA-owned home can email buyback@detroitlandbank.org or call 313-974-6869.
Who is eligible?
To qualify for the Buy Back program, individuals must currently live in a DLBA-owned house and have a connection to the property that meets at least one of the following conditions:
- They are the most recent owner of record before the property was acquired by a public entity
- They are a former renter in the property
- A family member was a former owner of the property
- They have paid for utilities at the property for at least 12 consecutive months
- They are the victims of real estate or rental fraud at the property
- They have received current and prior year state or federal documents at the property related to
income, benefits, or services
Program requirements include:
- Providing documentation of their eligibility for the program
- Allowing a DLBA inspector to come to their house to make sure the house is safe to inhabit
- Attending a Home Preservation Course with one of our seven non-profit partners
- Completing a one-on-one financial assessment with a non-profit housing counselor
For more information on the program, visit buildingdetroit.org/buy-back.
